Emerging Markets Local Debt

AUM $2.9 billion(30 June 2019)

Inception Date 2014

Benchmark J.P. Morgan Gov Bond Index EM Global Div (Unhedged)

Vehicles Available

UCITS Fund

Separate Account

Mutual Fund

Investment Philosophy

The portfolio management team combines quantitative models and macroeconomic analysis with bottom-up sovereign research to identify economic cycles and economic competitiveness across a wide range of emerging market countries. The economic cycle is a key determinant of interest rates dynamics and export competitiveness is a key driver of currencies.

Proprietary Quantitative Models and In-Depth Macroeconomic Analysis: We identify country-by-country economic cycles and international competitiveness across a wide range of emerging markets and developed economies. This provides a diversified and global perspective to investment opportunities.

Risk Management: Risk is monitored throughout the investment process on a bond-by-bond and currency level. The risk management framework includes rigorous quantitative modeling and scenario analysis.

Portfolio Managers

Dr. Ricardo Adrogué

Cem Karacadag

RelatedViewpoints

Sovereign debt outperformed in Q1 as geopolitical headlines continued to garner attention and commodities rallied. Risks remain for the asset class but some notable headwinds have now become tailwinds.

After a rocky 2018, the picture may be brightening for emerging markets debt. From rising rates to trade wars, some of last year’s headwinds look to be receding, at least for now. Barings’ Ricardo Adroguè and Omotunde Lawal highlight opportunities they’re currently seeing.

Barings’ Ricardo Adroguè and Omotunde Lawal highlight opportunities they’re seeing from Mexico and Brazil to more challenged geographies like Turkey and Argentina—and provide insight into how they’re thinking about political hotspots like Venezuela.

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